Spyglass Pharma (NASDAQ:SGP) Stock Keeps Buy Rating at HC Wainwright

Spyglass Pharma (NASDAQ:SGP)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $37.00 price objective on the stock. HC Wainwright‘s price target points to a potential upside of 33.53% from the stock’s previous close.

Several other research firms have also commented on SGP. Weiss Ratings lowered Spyglass Pharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, September 25th. Raymond James Financial assumed coverage on Spyglass Pharma in a research note on Friday, August 14th. They set an “outperform” rating and a $39.00 price objective on the stock. UBS Group restated a “buy” rating on shares of Spyglass Pharma in a research report on Monday, October 5th. Finally, Wall Street Zen lowered Spyglass Pharma from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Spyglass Pharma Stock Up 5.9%

Spyglass Pharma stock traded up $1.55 during mid-day trading on Wednesday, reaching $27.71. 86,126 shares of the company’s stock traded hands, compared to its average volume of 107,525. Spyglass Pharma has a 12-month low of $17.06 and a 12-month high of $32.44. The stock has a 50 day moving average of $26.58 and a two-hundred day moving average of $23.28. The company has a market cap of $926.35 million and a price-to-earnings ratio of -3.96.

Spyglass Pharma (NASDAQ:SGP) last posted its earnings results on Thursday, August 6th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). As a group, sell-side analysts forecast that Spyglass Pharma will post -2.55 earnings per share for the current year.

Institutional Trading of Spyglass Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in Spyglass Pharma in the second quarter worth about $533,000. Bank of America Corp DE bought a new position in shares of Spyglass Pharma during the first quarter valued at approximately $726,000. The Manufacturers Life Insurance Company bought a new position in shares of Spyglass Pharma during the first quarter valued at approximately $308,000. First Light Asset Management LLC purchased a new stake in shares of Spyglass Pharma in the first quarter worth approximately $9,716,000. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Spyglass Pharma in the first quarter worth approximately $6,478,000.

About Spyglass Pharma

SpyGlass Pharma, Inc is an ophthalmic pharmaceutical company developing sustained drug-delivery technologies for the treatment of eye diseases. The company’s platform is designed to provide continuous delivery of medication within the eye, with the goal of reducing reliance on daily topical eye drops and improving treatment adherence.

SpyGlass Pharma’s lead product candidate is an investigational drug-delivery system intended to treat glaucoma and ocular hypertension. The implant is designed to be placed in the eye during cataract surgery and release a therapeutic agent over an extended period, potentially providing longer-term control of elevated intraocular pressure.

The company is advancing its technology through clinical development and regulatory processes in the United States.